OTTAWA, Ontario, June 8, 2016 - The Board of Directors of VMS Rehab Systems Inc. reported today that its generic drug unit BioPharmcor B.V., launched this week its first private placement of class A voting shares. The Offering which has priced BioPharmcor B.V. ordinary A shares at eurocents 0.75 per share will be limited to 149 prospective investors. BioPharmcor B.V. has currently approximately 27 million common A shares outstanding at this time.
According to Dawid Mrotek, BioPharmcor's Director of Investor Relations, "BioPharmcor has a very exciting and focussed development program in place to develop a pipeline of generic drug products to improve Men's health. We have successfully funded our development program to date through a corporate bond program which we will continue to offer through our Polandbased unit BioPharmcor Sp. z o.o." Adds Mr Mrotek, "We have taken note of the fact that there is a large contingency of investors who have an interest in investing in the shares of BioPharmcor B.V., the group's parent company. We anticipate that should we receive a strong demand for BioPharmcor shares in this initial round of the Company's private placement, we may well expand this funding strategy in conjunction with our debt offerings to address future requirements."
The BioPharmor Group is currently developing a generic tadalafil drug product which is recognized as a first line treatment for Erectile Dysfunction (ED) and Benign Prostatic Hyperplasia (BPH). Proceeds from the Company's private placement offering will be used for further development work.
Established in 2014, Amsterdam based BioPharmcor B.V., has two operating subsidiaries, BioPharmcor Sp. z o.o. in Warsaw, Poland and BioPharmcor Inc, in Ottawa, Canada.
VMS Rehab Systems Inc. was established as a Canadian incorporated company in 1998. In addition to controlling BioPharmcor B.V., VMS Rehab Systems Inc. has been active in the home health market in North America for the past 18 years. More recently, the Company has been evaluating additional market opportunities to grow its business into a fully integrated Health Industry company.
VMS Rehab Systems Inc. operates through its offices in Ottawa, Canada and affiliated BioPharmcor offices in Amsterdam, The Netherlands and Warsaw, Poland.
The shares of VMS Rehab Systems Inc. are quoted on the OTC Market 'pink current' symbol: VRSYF.
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